EFTA01858441.pdf

To: Jeffrey E tein 'eevacation mail.com] Cc: F Noah From: Gregory Brown Sent: Sat 8/27/2011 8,09,15 PM Subject: Libya lost funds Jeffrey FYI see below Some $2.9bn (17.8bn) is missingfrom the accounts of the Libyan sovereign wealth fluid, the official tasked with tracking down Libya's foreign investments has told the BBC. Mahmoud Badi said investigations hadfound "misappropriation, misuse andmisconduct of funds" at the Libyan Investment Authority (MA). The LIA has totalfi nds worth about $70bn. It was set up in 2006 by Satfal-Islam, one ofMuammar Gaddafi's sons. LIA has overseas investments such as stakes in the Italian bank UniCredit, Italianfootball club Juvenftis and Pearson, the owner ofthe Financial Times. Mr Badi wasformerly a senior civil servant in the Gaddafi regime. He is understood to have been appointed to the MA on an interim basis by Ali Tarhouni, who is the minister in charge of financial and oil affairsfor the rebel National Transitional Council. "We are going to digfor the truth, we need the help ofexpert people, we will use expert people," saidMr Badi, speaking to the BBC at LIA's offices in London. "We will use all available means, we will contact all respectable institutions who were attached to thesefunds. Gregory Brown Chairman & CEO GlobalCast Partners. 1.I.0 US: Tel: Fax: Sk)1 EFTA_R1_00258982 EFTA01858441